Innergex Renewable Energy acquires Aela Energía for $691mn

Innergex Renewable Energy acquires Aela Energía for $691mn

OSLO, NORWAY: Mainstream Renewable Power and Actis have sold Aela Energía to the Canadian-listed developer Innergex Renewable Energy for USD 691 million.

Aela has grown to become Chile’s largest independent power producer of renewable energy, since it was established in 2013 as part of a joint venture between Actis (60 percent) and Mainstream (40 percent).

The planned exit reflects the successful culmination of Actis and Mainstream’s strategy for Aela. The divestment will generate net proceeds after tax to Mainstream of approximately USD 114 million.

Aela produces 332 MW of clean energy from three newly built onshore wind farms, and the power is sold via two power purchase agreements with 25 Chilean distribution companies. The clean energy Aela provides powers more than 500,000 homes, avoiding 354 tonnes of CO\2 \emissions annually.

Mainstream is one of Chile’s largest renewable energy companies and is currently building out multi-gigawatt renewable energy platforms in the region, including the flagship 1.4 GW Andes Renovables hybrid wind and solar portfolio in Chile.

Mainstream Renewable Power is a leading pure-play renewable energy company with a global footprint. The company is focused on expanding its high-quality pipeline of more than 16 Gigawatts (GW) of wind and solar assets across Latin America, Africa, Asia Pacific as well as the global offshore wind sector.

In 2021, Aker Horizons acquired a 75 percent equity stake in the company, enabling Mainstream to accelerate its global expansion plan.

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